By The Rio Times | Created at 2025-01-24 10:17:24 | Updated at 2025-01-24 19:56:55
9 hours ago
The global biometrics market continues its rapid ascent, with projections indicating substantial growth in the coming years. Industry analysts at Mordor Intelligence forecast the market will reach $104 billion by 2029.
It is expected to grow at a 12.3% CAGR from 2024 to 2029. This expansion reflects the increasing adoption of biometric technologies across various sectors.
Brazil emerges as a key player in Latin America’s biometrics landscape. The country’s advanced technological infrastructure positions it to lead regional innovation.
Brazilian companies like Valid play crucial roles in national identity systems. Valid issues 80% of National Driver’s Licenses and 65% of National Identity Cards annually.
However, privacy concerns persist among Brazilian citizens. Over 60% worry about biometric data collection, according to the Internet Management Committee in Brazil.
Biometrics Market Soars: Brazil Leads Latin American Innovation Amid Privacy Concerns. (Photo Internet reproduction)This unease stems from high-profile cases like the Tools for Humanity startup’s iris scanning project. The National Data Protection Authority (ANPD) launched an investigation into the company’s practices in response to public outcry.
Brazil’s Biometric Technology
The Brazilian government and private sector continue to explore biometric applications. Viracopos International Airport in Campinas recently implemented a comprehensive biometric boarding system.
This initiative, set to fully launch by February 2025, uses facial recognition for contactless payments and boarding processes. In the retail sector, Brazilian startup Payface partners with fashion retailer Lojas Nalin.
Their collaboration allows customers to make purchases using facial biometrics. This technology rollout spans 70 checkouts across multiple store locations in Rio de Janeiro state.
As biometric technologies advance, ethical considerations take center stage. Discussions around data privacy, algorithmic fairness, and responsible development practices intensify.
Industry leaders express commitments to data diversity and inclusivity in biometric applications. The future of biometrics in Brazil remains dynamic.
Balancing innovation with privacy protection presents ongoing challenges. As the country navigates these issues, it stands poised to shape the future of biometric technology in Latin America and beyond.
